JPMorgan Chase & Co. Reiterates "Neutral" Rating for Allogene Therapeutics (NASDAQ:ALLO)

Key Points

• JPMorgan Chase & Co. has reiterated a "neutral" rating for Allogene Therapeutics following a series of recent stock analyses by various brokerages, indicating a generally cautious outlook.
• Allogene Therapeutics' stock is currently trading at $1.08, having experienced a decline of 12.2%, with a 12-month range between $0.86 and $3.78.
• The company reported earnings of ($0.28) per share, aligning with analysts' expectations, and is projected to report an EPS of (1.28) for the current year.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at JPMorgan Chase & Co. in a research report issued on Monday,Benzinga reports.

A number of other brokerages have also issued reports on ALLO. Oppenheimer decreased their price target on Allogene Therapeutics from $10.00 to $9.00 and set an "outperform" rating for the company in a research note on Wednesday, May 14th. Citigroup dropped their price target on Allogene Therapeutics from $8.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Citizens Jmp lowered Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a report on Wednesday, May 14th. Truist Financial reduced their price objective on shares of Allogene Therapeutics from $14.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Finally, Piper Sandler reduced their price target on shares of Allogene Therapeutics from $9.00 to $7.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Allogene Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $8.44.

Allogene Therapeutics Stock Down 12.2%

Shares of ALLO opened at $1.08 on Monday. Allogene Therapeutics has a 12-month low of $0.86 and a 12-month high of $3.78. The stock has a market cap of $236.23 million, a P/E ratio of -0.88 and a beta of 0.35. The business's fifty day moving average is $1.28 and its 200 day moving average is $1.51.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.28) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.28). On average, analysts expect that Allogene Therapeutics will post -1.28 EPS for the current year.

Institutional Trading of Allogene Therapeutics

A number of institutional investors have recently made changes to their positions in ALLO. Lynx1 Capital Management LP lifted its position in shares of Allogene Therapeutics by 75.3% in the 4th quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company's stock valued at $23,163,000 after acquiring an additional 4,672,349 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Allogene Therapeutics by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock worth $8,547,000 after buying an additional 3,747,397 shares in the last quarter. Foresite Capital Management VI LLC acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth $7,345,000. Patient Square Capital LP acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth $3,174,000. Finally, Gilead Sciences Inc. acquired a new position in Allogene Therapeutics in the 4th quarter valued at $2,464,000. 83.63% of the stock is owned by institutional investors and hedge funds.

About Allogene Therapeutics

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell acute lymphoblastic leukemia (ALL).

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